The number of initial jobless claims in the United States dropped last week, easing concerns about the deterioration of the job market

The number of initial jobless claims in the United States decreased by 5,000 to 227,000 last week, lower than the market's expectation of 230,000, easing concerns about the deterioration of the job market. Despite job vacancies falling to a three-and-a-half-year low, layoffs remain relatively low. A recent report from the Federal Reserve showed that the overall employment level has remained steady or slightly increased, while job seekers are facing greater difficulties. Economists expect the addition of 160,000 non-farm jobs in August, and the unemployment rate may drop from 4.3% in July to 4.2%